Thread regarding U.S. Bank layoffs

US Bank oppresses and abuses women and then they turn around and say they want to be one of the top banks with female representation. HA! What a joke! All yt men dominating every part of this company. Operates like a small-town bank full of dated, old men who tell women to go get them coffee and to put on a smile. Kinda like the mafia but with a DEI landing page as a front.

How will it work if we all come in on a Tuesday and there no space? Go back home after a 1 hour commute? 2 hours wasted driving or 3 hours wasted on the bus?

@3lod+1qPTbqtH You've been brainwashed into thinking the 401k match is some sort of magnanimous gesture that you should be grateful for - it isn't. It's part of your compensation. USB may have the right to suspend the match, but they wouldn't dare absent a catastrophe. Every other bank I have worked for made the match at every pay period, and none of them had the ba--s to send out a company wide memo declaring it to be some sort of generous gift.

Having said that, if there is a recession, and other financial services companies begin to suspend 401k matching, then you better believe that USB will jump right on that bandwagon.

@3lod+1qPTbqtH Ok HR. Sit down and read the comments. Many I spoke with also feel the same way but they are not aware of this site so aren’t commenting here but they comment in person when spoken to about this subject. Everyone is pi---d with this RTO and even the happiest people in my department now show the sour face.

Remember USB just completed the yearly match into our 401K and pension to qualified employees. It is something to be grateful for.
Just be patient and focus. It is not always green to the other side.

@3wdq+1qPTbqtH large cities are full of people and chaos. I try to avoid that type of scenery at all cost. It’s not healthy.

@3sbd+1qPTbqtH What do you mean by jungle??

Even if I’m 20 miles from hub if that hub is in a major city I’m not planning on going. I didn’t sign up to work in the jungle when I took this job.

1jfk+1qPTbqtH I think the magic number is 60 miles one way. If you 60 miles or more from a hub I’d be paying attention

From US Bank’s Annual Report:
A noted risk to earnings

The Company’s business could suffer if it fails to attract
and retain skilled employees The Company’s success
depends, in large part, on its ability to attract and retain key
employees. Competition for the best people in most activities the
Company engages in can be intense.
The impact of the COVID-19 pandemic had a significant
impact on the longer-term labor and employment market,
including heightened pressures on employers to increase
compensation and provide work-from-home, hybrid and other
flexible working arrangements. Employees have shifted their
focus to expectations that extend beyond compensation,
including better work-life balance, improved advancement
opportunities and improved training, and many businesses,
including the Company, have had to adapt quickly to the
changing environment. The Company’s ability to compete
successfully for talent has been and may continue to be affected by its ability to adapt quickly to such shifts in employee focus,
and there is no assurance that these developments will not cause
increased turnover or impede the Company’s ability to retain and
attract the highest caliber employees.

@1bnb+1qPTbqtH Well I have you beat Mrs 15+, I've been here 20 plus quite a few more and I have enough open mindedness to see that times have changed....and it should be for the better. I remember people telling me how they had to walk certificates down the street when they started. I would laugh and tell them how crazy that mindset was. Now I laugh at how crazy it is for the company to pay for 2 sets of everything, a building, all the office supplies that come with in office work that I have been more than happy to pick up from the store for myself over the last 4 years. My current role was created during the pandemic and our office space isn't even conducive of my work with all the distractions but there isn't actual offices to be had in our building. "They are changing the space!" Like he-l they are!

If you invested $100 in US Bank stock on 4/20/17 you would have $108.02 today (with dividends reinvested), or an annual return of 1.15%.
BAC would net $167.29 or 7.9%.
PNC would net $155.45 or 6.75%.
JPM would net $233.23 or 13.37%.

Managing Committee all age 50+

Cruel and careless approaches to reducing payroll expense due to their mismanagement (Do the right thing!)

Ok boomer.

When will these Scrooges? I’m so tired of the “this is the way it’s always been” mentality.

US Bank now does an annual purge to layoff people. Bonuses won’t be 100% this year. No one is ever rated Exceeds Expectations regardless of effort.

Quick Google search says USB has been fined $21MM, $37.5MM, and $36MM for illegal practices recently. Are you hoping to make it so miserable for employees that they quit so you have make the balance sheet work?

Where’s the logic in all of this? Seriously asking. It’s not like there’s any real answers coming from the ceo or managing committee.

For a company that evangelizes “trust”, “we put people first” and “we do the right thing” — are they really just talking only about executives and shareholders? Seriously asking?

Just tell the truth for once.

Anyone who has looked at that RTO FAQ can tell this is going to be expanded to those currently listed as fully remote. Rumor is those within 30-35 miles of a 'hub' will also be required to go in. No idea what they are planning for folks who live outside that radius, but USB often follows what other companies are doing (albeit 1-2 years behind). If you're remote and moved far away from an office during COVID, you will want to keep a close eye on things.

@1bnb+1qPTbqtH - we get it, you didn't raise your own kids and went to work instead. Now you think everyone should do that. Bitter. Some of us want to be there for our kids, and make a little money along the way. It's not 1959 anymore.

@1yph+1qPTbqtH - located the bootlicker.

Ultimately the cat's out of the bag: you found out you can do your job to 100% efficiency while in your basement during covid but that isn't the point for USB. We work at a company whose strategy is BIS (butts-in-seats). Not business objective, not morality, not even making money, it's BIS. The idea is that to be seen at work is much more important than actually working. It also wouldn't be surprising if they come up with an arbitrary mileage around hubs (40, 50 miles as the crow flies), and if you live in this range as a remote employee you gotta come in. Your circumstances are irrelevant to them as they have an emotional need to see your face.

It's interesting how vague the company email was days ago when you consider there's WAY more clues in the documentation listed on the intranet for RTO. It mentions the 3 employee statuses are being removed (on site, hybrid, remote), meaning most will be heading to the office later this year. More disgusting than the lack of open transparency is the fact that mid-managers who run teams featuring members across state lines are all going to head into the office, log into teams meetings, and speak remotely - something they ALREADY DO FROM HOME. Also, god forbid a few people remain working in their home - this breeds resentment towards peers.

Here's another one: A lot of people ask how they will track people. (1) You'll use a badge and that usage is recorded and (2) they can compare remote VPN login data to when you log in via your local USB location. How do you feel about being babysat even though you've been an adult for years? Feels like a college job, feels dystopian.

A fun conspiracy theory is that US Bank can't necessarily just get out of all their land contracts so they want the butts in seats for this reason as well. Real estate costs money. USB says: "We've heard your feedback for the last 4 years but go ahead and chain yourself to your desk now, please, thank you. We promise we'll put on a town hall 4 u <3."

Welcome to workforce attrition, the divisive strategy of the future.

@1bnb+1qPTbqtH Ok boomer. Sounds good.

The rest of us are living in 2024. the Henry Ford model of work style is dead, and was originally designed to make good little slave workers.

Congrats, that's you.

The old mentality of I’ve been here 15 years and I want y’all tall to suffer is beyond me. Wake up lady. It’s 2024 not 1990.

Make sure you understand the Americans with Disabilities Act (ADA). If this transition will cause you significant mental stress you should see your doctor and do some research as to how different diagnoses could require the company to provide reasonable accomodations like 100 percent remote work your doctor can help you with all the documentation you need

Miss "I been here 15 years" is exactly the wage slave mentality they want. Meanwhile, the bear talent is going to be out the door while those that can't find a job elsewhere stay and, I quote officespace, do just enough to not get fired. The world has changed, lady. We have proved there is no reason to have to schlep into the office. Just because life used to be sh---y for you (I walked uphill both ways in the snow!) doesn't mean life has to go back to being sh---y.

I’ll never understand people that had a hard time, did it the most painful way-- but don’t want to improve it for those coming up behind them.

Sad comment. It’s time to get back to reality. Don’t make this a s-xist thing. If you want to work remote full-time, you are free to find another job. I am grateful that I can still work from home 2 days/week. I didn’t get this benefit pre-covid.

OMG get over it. I’m a mom of 3 and worked 5 days in the office, paid for daycare for 3 kids under 4, had to dress up for work EVERY day and had no flexibility to stay home in bad weather, when the kids were sick etc without sacrificing a vacation day. Y’all are a bunch of crybabies. I’ve been with the bank for 15+ years so I’ve seen a lot. Stop being so d**m entitled

This RTO policy su-ks for all workers.

It's an effort to avoid severance and layoffs. Nothing more.

And to the poster that thinks it's all about impact to women, those mindsets are exactly what makes the DEI at U.S. Bank a miserable experience.

The RTO workforce strategy is damaging to men as well

Bravo Let’s include the Minneapolis Managing Committee, Vice Chairs and the bootlickers vigorously nodding their heads in agreement

This is how I feel. I'm completely demoralized. I have only worked there about 2 years but working from home has allowed me to do my job in a way I would not have been able to achieve in the office. And I have flourished. My review saw me leapfrog pay grades because of my performance. I work with zero people at the city I'm attached to. Everyone I work with is amazed at my performance and sees me as an asset. And now I'm being told that I need to commute 45 mins - 1 hour each way, pay $15-20/day in parking in order to sit in a building with no one that I actually work with and get on teams. This has completely flipped my mindset from one that was excited about the year ahead, excited to continue to perform at the level I have been to one that is feeling like what is the point? Why do more than the bare minimum? And if you're going to treat me like I'm not doing work when I'm at home, guess what I'm going to be doing now on those 2 days I'm not there?

I stand with you.